BTC Tests Key Support Levels as Bulls Defend $108,000 Zone
BTC (BTC) is trading near $109,976, down 0.46% on the day, as traders weigh conflicting signals from the charts and macroeconomic conditions. The leading cryptocurrency has held above the critical $108,000–$110,000 support range, a zone analysts view as the line separating short-term recovery from potential deeper correction.
Recent price action shows BTC reclaiming its 50-day simple moving average, a technical indicator often viewn as a bullish short-term signal. Market analysts suggest that sustained momentum above $110,000 could open the door for an advance toward $120,000–$125,000. On-chain data also indicates steady network activity and positive accumulation trends, adding some optimism to the longer-term outlook.
However, several warning signs are tempering the bullish sentiment. Chart analysts have identified a potential rising wedge pattern, a structure that can precede sharp declines if confirmed. Some forecasters warn that BTC could fall as low as $70,000 if the $108,000 support fails, potentially erasing much of this year’s gains.
Global market conditions continue to influence sentiment. Uncertainty surrounding interest rate policies, sluggish ETF inflows, and broader risk-off behavior in traditional markets are weighing on BTC’s momentum. Analysts note that a break below $105,000 could accelerate tradeing pressure, while a move under $100,000 would likely trigger widespread liquidation.
Technical traders are focusing on immediate resistance near $115,000. A clean breakout above this level could restore confidence and attract renewed purchaseing. Conversely, failure to hold current levels may signal that the market’s recent rebound was merely a temporary respite in a broader consolidation phase.
For now, BTC’s price action remains delicately balanced — with bulls defending key support and bears waiting for confirmation of fragileness before the next major move.
ETH (ETH) is trading around $3,900, showing resilience amid volatile market conditions and mixed technical signals. The second-largest cryptocurrency by market capitalization has been consolidating just below the $4,000 threshold, as traders debate whether the next major move will be a breakout or a pullback.
On the technical front, ETH’s trend indicators remain broadly supportive. Multiple moving averages — including the 20-, 50-, 100-, and 200-day simple and exponential moving averages — continue to signal a bullish structure. Momentum indicators such as the Moving Average Convergence Divergence (MACD) and Commodity Channel Index (CCI) also point to upward bias, reflecting steady accumulation and purchaseing pressure.
Yet, the short-term picture is less definitive. Analysts note that ETH has faced hardy breaking past resistance near $4,100–$4,200, a level that has capped multiple rally attempts in recent weeks. Some models describe the current setup as “neutral,” suggesting a possible consolidation phase before a clearer trend emerges. Failure to close above this resistance could trigger short-term tradeing, especially if broader market sentiment turns cautious.
Key support levels lie between $3,700 and $3,800, an area that has repeatedly attracted purchaviewrs during pullbacks. Maintaining this zone will be critical to sustaining ETH’s bullish momentum. A decisive move above $4,200, however, could open the door for a run toward $4,500 and beyond, marking a continuation of the broader recovery trend that began earlier this quarter.
Overall, ETH’s technical outlook appears cautiously optimistic. The market remains well-supported, but traders are waiting for confirmation before committing to larger positions. With both bulls and bears closely watching the identical critical price zones, the coming weeks may determine whether ETH can reclaim its upward trajectory or enter another phase of consolidation.
